USD/CAD consolidating in a trading range of 1.3085 – 1.3056 as we can see in the trading chart given below. Volatility is still low, as traders await CPI & Retail Sales a couple of hours.
CAD: Core CPI m/m
The gain in CPI is likely to strengthen CAD, causing sell in USDCAD.
USD: Core Retail Sales m/m
The gain in Retail Sales is likely to strengthen CAD, causing sell in USDCAD.
S: 1.2946 1.2985 1.3009
R: 1.3086 1.3110 1.3148
– Breakage below 1.3056 is likely to lead the market to next target level of 1.3020 & 1.3000
– Breakage of resistance @ 1.3080 is likely to lead the market towards 1.3147.
Good to sell below 1.3056
SL: 1.3090 TP: 1.3000/ 1.2960